When recipients of federal grants turn around and award some of the federal funds to other organizations, the government expects prudent oversight of the subrecipients. Those expectations got a shot of adrenalin when the Office of Management and Budget ramped up policies on how that oversight must be conducted. Because so many federal grant programs involve extensive subaward activity, it’s not surprising that OMB would weigh in so emphatically.
In the new reality, federal subrecipient monitoring policies now exist at the intersection of compliance and internal control. While there are some steps that must be conducted for every subrecipient regardless of the size of the subaward, there are others where judgment has to be exercised about whether and to what extent they need to be carried out. For most “pass-through entities,” that means tailoring the approach and balancing risk and resources.
This webinar will help organizations craft a practical and effective outcome and will cover:
- How to stratify subrecipient organizations based on award size and risk
- How to craft subaward agreements with post-award monitoring in mind
- Subrecipient reporting responsibilities under FFATA
- Which subaward monitoring steps are “non-negotiable”
- Creation of procedures for assuring subrecipient audit compliance
- How to draft “management decisions” on subrecipient audit findings
- Federal expectations for timely tracking of corrective actions
- The role of agreed-upon procedures in audits of subrecipients
- How to determine whether a site visit is necessary — and the desirable outcomes
- How to balance effective oversight with supportive technical assistance
- What to expect from independent auditors who will assess pass-through entity procedures
Join Bob Lloyd, principal of Federal Fund Management Advisor™, for this thorough review of a key federal grants management responsibility.
Who Should Attend?
- Grant and contract managers
- Sponsored projects administrators
- Program managers
- Subaward managers
- Principal investigators
- Finance directors
- Accounting staff
- Audit liaisons
- Internal auditors
- External auditors
Hand-out Materials:
Attendees will receive presentation slides as well as access to background materials.
Allowable Charges
The costs of webinars sponsored by Federal Fund Management Advisor™ are allowable charges to your federal grants and subgrants. The cost principles issued by OMB under its uniform guidance (and applicable to all types of awardees) state, “The cost of training and education for employee development is allowable” (2 CFR 200.472).
Attend this Live Webinar and Earn up to 1.5 CPE Credits